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Why Shares of Tesla Soared Nearly 30% in June

Why Shares of Tesla Soared Nearly 30% in June

Shares of electric-car maker Tesla (NASDAQ: TSLA) rocketed 29.3% in June, propelling the company's stock price above $1,000 a share for the first time ever, according to data from S&P Global Market Intelligence. Tesla's 2020 performance represents a head-spinning turnaround from 2018, when the stock price basically went nowhere, and 2019, when its share price plummeted below $200 a share in May and spent most of the rest of the year climbing out of the hole. On June 8, news broke that the Chinese version of Tesla's Model 3 -- which is manufactured in Shanghai -- saw record-breaking sales in May.